Visa Begins US Stablecoin Settlement via USDC on Solana

Visa is expanding its stablecoin aviator to see settlements successful the United States utilizing Circle's USDC connected the Solana blockchain. 

The enlargement volition let U.S. acquirer and issuer partners of the payments elephantine to settee successful USDC, starting with archetypal banking partners Cross River Bank and Lead Bank. The steadfast is expecting a broader rollout successful 2026. 

“Visa is expanding stablecoin colony due to the fact that our banking partners are not lone asking astir it—they’re preparing to usage it,” said Visa’s Global Head of Growth Products and Strategic Partnerships Rubail Birwadker, successful a statement. 

“By bringing USDC colony to the U.S., Visa is delivering a reliable, bank-ready capableness that improves treasury ratio portion maintaining the security, compliance and resiliency standards our web requires,” helium added. 

According to the firm, USDC colony allows for faster money question and accrued colony availability, upgrading from the emblematic 5-day concern week to a afloat 7-day colony window. 

The U.S. enlargement builds connected Visa’s existing stablecoin colony experience. The payments steadfast has been experimenting with colony successful USDC since 2021, and began formally doing truthful in pilots crossed the globe starting successful 2023. It has present eclipsed a $3.5 cardinal annualized tally complaint based connected its information from November 30. 

“Fintech and crypto innovators progressively inquire america to bring stablecoins into their existing merchandise suite,” said Gilles Gade, founder, president, and CEO of Cross River Bank, successful a statement. “A unified level that natively supports some stablecoins and accepted outgo networks is the instauration for however worth volition determination globally.” 

Visa’s U.S. enlargement comes 1 time aft it announced the instauration of a stablecoin advisory practice, a work to assistance fiscal institutions and merchants measure and instrumentality stablecoin practices.

Visa Pilots USDC Payouts for Creators and Gig Workers

Last month, Visa began piloting the usage of USDC successful nonstop payments for gig workers, and earlier this twelvemonth it expanded its stablecoin colony offerings in different countries to see different layer-1 blockchains similar Stellar and Avalanche. 

It has besides been moving with Circle arsenic an aboriginal plan spouse connected its stablecoin-focused blockchain, Arc. In the future, Visa said it aims to let USDC colony connected Arc successful summation to operating a validator node for the network. 

Shares of Visa Inc. (V) are down astir 0.5% aft the opening doorbell connected Tuesday, changing hands astir $345.26. Shares person gained astir 9.2% year-to-date.